Senator Don Plett of Steinbach says the Liberal government's proposed changes to the capital gains tax, is an attempt to remove the focus from their incompetence. 

Finance Minister Chrystia Freeland has said that her government will bring its proposal to increase the inclusion rate on capital gains to the House of Commons before the parliamentary summer break. The Finance Minister announced the capital gains tax changes as part of her April budget but left the new inclusion rate out of the budget legislation she tabled last month. The Liberals must table a motion in the House of Commons before they bring forward the actual legislation. The government says that even if a bill has not yet passed, the change will take effect on June 25th.

The government proposes to make two-thirds of capital gains taxable. Currently, only one-half of the profits made on the sale of assets, such as stocks or secondary real estate property are taxed. The higher inclusion rate will apply to all capital gains realized by corporations, while individuals will only face the higher inclusion rate on capital gains of more than $250,000.

Steinbach Senator Don Plett says the Liberals are saying that this change will hit the very wealthy. However, he is certain that what they want to do is to target everyday Canadians with this change. 

"One thing is certain, Trudeau says this will hit the wealthy," notes Plett. "Trudeau's wealthy friends won't pay a cent more; it will be the working and middle-class Canadians that will again be on the hook for Liberal spending."

Plett says many average Canadians purchased property years ago as an investment, which they will soon be taxed on more heavily unless they now dump the property. 

The Steinbach Senator is not only concerned with how this change would impact everyday Canadians, he also questions the process. 

"Minister Freeland herself said this will take effect June 25th and yet we don't have legislation," points out Plett. "Did they simply make this up out of thin air? Why wasn't this included in the budget bill? Initially, it was supposed to be."

Plett says an item like this should have been placed in the budget bill to be voted on as an entire package. He notes this is not a tax that you put in piecemeal and then bring in some sort of cabinet order that takes effect before the legislation has even been tabled. 

"It's simply hard to understand the incompetence of this government," he adds. 

Plett says what the Liberals are doing is saying they know what is best for Canadians and they will make sure this change happens, whether it is voted on or not. 

Plett says rather than tax increases, he would like to see a stop in inflationary spending. Plett says our country is spending more on debt interest than it spends on health care. He notes rather than taking steps to stop inflationary spending, our government wants to target Canadians who wisely invested their money in a retirement plan.

"What's happening today is worse than Pierre Elliott Trudeau's National Energy Program," says Plett. "This is hurting the entire country and Jagmeet Singh and Justin Trudeau together are just simply running our country into the ground, and we just have to hope and pray that we can have an election before they completely finish us off."

Plett says a common-sense Conservative government would stop the spending.

"If you want to spend a dollar, you find a dollar," he says. "That is the way to balance our budget, not just simply by increasing taxes on everyday Canadians."

Plett says the Parliamentary Budget Officer has indicated that most families will pay more in carbon tax in the next year than they will receive in their rebate. He notes the average Manitoban will pay $1,750 more in carbon tax than they will get back. 

"Pierre Poilievre has called on Trudeau to give Canadians a summer break, by axing the carbon tax, the federal fuel tax, and the GST on gasoline between Victoria and Labour Day, just for a while so that families can afford to take a summer vacation," he says.

Plett says a move like this would save the average Canadian about $670 throughout the summer, lowering gas prices by an average of 35.6 cents per litre. To pay for this move, Plett says the Conservatives are calling for the Trudeau government to cut back the over $21 billion in spending on over-priced consultants. He notes this number has risen by nearly 100 per cent since 2015. 


With files from The Canadian Press

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